CFPB Takes Reassuring Tone Among TRID Complaints

Boston Agent Magazine, Jan. 4, 2016–McClister, James

Following the Oct. 3 implementation of the new disclosure rules, Richard Cordray, director of the Consumer Financial Protection Bureau, compared the fears surrounding TRID to those inspired by Y2K. But after receiving a letter from the Mortgage Bankers Association, the CFPB responded in a letter of its own (addressed to MBA President and CEO David Stevens) this time with a much more reassuring message.